Risk-based capital adequacy requirements are the main tool employed by government regulators to assure bank stability. This approach allows banks to choose from a number of alternative methods for calculating the required capital. Many systems for measuring risk differ significantly in cost,...

Macroeconometric policy simulation models allow for an analysis, and, above all, for a quantification of the effects different economic policies have on the various variables that represent the economy. Despite the seminal Lucas critique levelled against them, these models are still widely used,...

Macroeconometric policy simulation models allow for an analysis, and, above all, for a quantification of the effects different economic policies have on the various variables that represent the economy. Despite the seminal "Lucas critique" levelled against them, these models are still widely...

This paper investigates the impacts of Naira real exchange rate misalignment on Nigeria's economic growth using quarterly data spanning the period 2000- 2014. We derive estimates of Real Exchange Rate Misalignment (RERMIS) by computing deviations of the actual real exchange rate from a...

This article investigated the possible costs of disinflation experienced in Colombia from 1998 to 2003, using a structural VAR model with short- and long-term restrictions based on the Buiter-Miller model (1982). This analyses the effects of decelerating monetary growth on the real interest...

The transposition of the European Directive on Basel II has been recently done by the Circular 3/2008 on Minimum Capital Requirements of the Bank of Spain. This new regulatory framework has encouraged the Spanish banking sector to evolve to sophisticated techniques for managing operational risk...

The study investigates how mis-allocation of Nigeria's foreign exchange among the consumer and capital goods and new materials between 1970 and 1983 contributed to the deep/worst business recession in the 1980s and 1990s. In recognition of the structural mal-adjustment problems faced by a debt...

The paper suggests a simple financial instability indicator for the euro area economy. It works as a discrete thermometer with three possible outcomes depending on the severity of the crisis. This indicator is based on the specific shape of the credit term structure for the two main peripheral...

This paper reviews the genesis and early development of macro-modelling for the IMF's World Economic Outlook from the report's inception up to the early 1990s. Models covered include the Multilateral Exchange Rate Model, World Trade Model, Minimod, Multimod Marks 1 and 2, the Disaggregated...